Impinj (NASDAQ:PI) Price Target Raised to $245.00

Impinj (NASDAQ:PI) had its price objective hoisted by Needham & Company LLC from $195.00 to $245.00 in a report published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on PI. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Lake Street Capital lifted their target price on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research note on Monday, October 21st. Evercore ISI lifted their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Roth Mkm boosted their target price on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and an average target price of $224.60.

Impinj Stock Performance

NASDAQ PI opened at $200.70 on Thursday. The firm’s 50 day moving average price is $196.40 and its two-hundred day moving average price is $169.26. Impinj has a twelve month low of $58.56 and a twelve month high of $239.88. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. Impinj’s revenue for the quarter was up 46.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.36) earnings per share. On average, research analysts forecast that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity

In other Impinj news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $237.83, for a total transaction of $87,045.78. Following the completion of the transaction, the chief financial officer now owns 71,096 shares of the company’s stock, valued at $16,908,761.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Impinj news, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the sale, the chief financial officer now owns 71,096 shares of the company’s stock, valued at $16,908,761.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 1,219 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.82, for a total value of $289,902.58. Following the transaction, the chief executive officer now owns 294,438 shares of the company’s stock, valued at approximately $70,023,245.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock valued at $3,825,046 over the last 90 days. 51.00% of the stock is currently owned by company insiders.

Institutional Trading of Impinj

Several hedge funds and other institutional investors have recently bought and sold shares of PI. New York State Teachers Retirement System bought a new stake in shares of Impinj in the 3rd quarter worth approximately $1,126,000. State of Alaska Department of Revenue bought a new position in Impinj in the third quarter worth $2,813,000. First Bank & Trust boosted its stake in Impinj by 3.2% during the third quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after buying an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Impinj by 157.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock worth $2,009,000 after buying an additional 5,669 shares in the last quarter. Finally, Consolidated Portfolio Review Corp bought a new stake in Impinj in the 3rd quarter valued at $1,861,000.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company’s platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.